Bank of Baghdad, Al Amwal (an electronic banking services company), and a consortium of 13 Iraqi banks, have joined the Visa payment network in Iraq – reported AME Info. As new Visa members, Bank of Baghdad and Al Amwal are expected to help expand the acceptance network for Visa cards at ATM and point of sale locations within Iraq, and help issue additional Visa payment cards to local customers.
Visa has said that it will allow Iraqis and individuals visiting Iraq to use their Visa cards to pay for goods and services at merchant locations throughout the country.
Commenting on the expansion, Tony Gougassian, area manager for Iraq, Levant and Qatar, at VIsa, said: Our expansion in Iraq is an excellent example of Visa’s approach to growing electronic payments and extending the value of Visa to new stakeholders and new marketplaces. We are committed to bringing the benefits of electronic payments to new marketplaces through our partner banks and in turn helping banks to become leaders in their region.
Atheer Al Qadhi, executive director of Al Amwal, said: This transformation of the Iraqi payments marketplace from cash to electronic payments is our main goal. It is a privilege to be associated with Visa Inc, a leader in advancing global commerce and to be able to provide our customers access to the Visa global payments network.
